Application Process

 

Welcome to Precision Apartments!

Thank you for your interest in renting one of our homes. Below is a detailed explanation of our application process as well as our standards for qualification. 

 

Application

Each person over the age of 18 who will be living in the home must complete and submit a separate application and processing fee.  Application fees must be submitted for applications to be processed. In order to qualify, the occupants must meet or exceed the minimum standards for qualification, unless satisfied by a co-signer.  Incomplete applications will not be processed. Applications containing false information will immediately be disqualified. Please expect 5-7 days for the application process. Processing the Application will include direct contact with employers, current landlord, previous landlords, friends, personal and professional references, law enforcement agencies, government agencies, consumer reporting agencies, public records, eviction records, and any other sources that may be deemed necessary. A consumer report will be used in the processing of all applications.  Should the Applicant be denied or face other adverse action based on information received in the consumer report, the Applicant has a right to obtain a free copy of the consumer report, and to dispute the accuracy of the information it contains by contacting: TransUnion SmartMove at (866) 775-0961.

 

Virtual Showing Disclosure

If you viewed the property virtually, Precision Apartments highly recommend that you send a family member or trusted friend to view the property in person. Virtual showings are not able to fully capture the property and surrounding area the way humans' senses do. By signing below you acknowledge that you were informed that by viewing virtually you take full responsibility to ensure you have done your due diligence prior to signing your lease. 

 

Deposit to Hold

After approval, if the tenant will not be taking occupancy within 24 hours, a non-refundable Deposit to Hold in the amount equal to one month's rent will be required to hold the property until a mutually agreed upon move-in date.  The maximum amount of time a rental will be held is 7 days, unless agreed upon by Landlord and Applicant. After all move-in requirements have been met and a lease for the property is completed, the Deposit to Hold will transfer to the security deposit to be held throughout the tenant's entire tenancy. If the Prospective Tenant fails to provide the Deposit to Hold within agreed-upon time, the home will be offered to the next qualified applicant. 

 

Move-in Requirements

After approval and before occupancy will be granted, Prospective Tenant must supply all the required move-in funds, including the security deposit, first month's rent, and any other additional deposits and fees, all tenant-paid utilities must be transferred into Prospective Tenant's name, and a lease must be executed and signed by all parties.

 

Pet Fees

In units that allow pets, there will be a one-time pet fee of $300/pet to be paid before occupancy (caged animals included)  Maximum animal weight for upstairs units is 25 lbs.  There will be no more than 3 pets allowed in a unit. All pets' weight cannot exceed 100 lbs. 

Aquariums: 50 gallons or less = $50, 51-75 gallons = $100, 76-100 gallons = $200, 101+ = $300 

Residents will be responsible for damages caused by pets.

 

Qualification Standards

Applicants who do not meet minimum screening standards will not be approved.

 

-The applicant must have current photo identification and a valid social security number.

-The applicant's monthly household income must exceed three times the rent. All income must be from a verifiable source.  Unverifiable income will not be considered.

-Applicants must receive positive references from all previous landlords for the previous 2 years.

-The applicant may not have any evictions or unpaid judgments from previous landlords.

-The applicant must exhibit a responsible financial life.  Credit score must be a minimum of 600.

-A background check will be conducted on all applicants over 18.  The applicant's background must exhibit a pattern of responsibility. And have no violent crimes on their record. 

-Occupancy is limited to 2 people per bedroom.

- An applicant who does not meet credit and income requirements will not be accepted unless they are a full-time student with a qualifying co-signer. 

-All co-signers must have a 700+ credit score and income must be four times one month's rent. 

 

At the landlord's discretion, compensating factors such as an additional security deposit or co-signer (guarantor) may be required for qualification if the Applicant fails to meet one of the above requirements. In the event of multiple applicants, the tenancy will be granted to the most qualified, based on the above criteria. Precision Apartments and the owners whom it represents conduct business in accordance with the Federal Housing Law and does not discriminate against any person because of race, color, religion, sex, disability, familial status, or national origin. 

 

 

Rental Application

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